Solana memecoin launchpad Pump.fun’s monthly revenue fell to a 2025 low in July, signaling a sharp drop in the memecoin creation sector after months of declining interest.
According to data from DeFi analytics platform DefiLlama, Pump.fun generated $24.96 million in revenue last month, down 80% from its January peak of over $130 million.
The platform’s revenue has steadily declined this year, decreasing to $90 million in February before plunging to $37 million in March, DefiLlama data shows.
The protocol’s revenue hovered around $40 million for the next three months before reaching its lowest point in July.
The sharp decline mirrors waning momentum in the broader memecoin sector, which had experienced a surge in trading volume and market capitalization in July before rapidly cooling.
Memecoin trading volume drops 67% from July’s peak
Memecoins performed well last month, with analysts saying the sector flipped bullish. CoinMarketCap data showed that memecoins recorded a high of $85 billion in market capitalization and $17.22 billion in 24-hour trading volume on July 23.
However, the memecoin sector was unable to sustain its rally. On Monday, CoinMarketCap data showed that the overall memecoin valuation dropped to $65 billion, down 23.5% from its peak in July.
In addition, the 24-hour trading volume decreased to $5.59 billion, falling 67% from its July 23 record.
The Solana network, home of the top memecoin launchpads, has seen a decline in new tokens created in August.
Solscan data showed that on Saturday, there were only about 34,040 Solana Program Library (SPL) tokens minted in Solana. This was the lowest daily mint recorded in the last three months.
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Solana memecoin launchpads see drops in daily traders and volume
Trading activity on Solana’s major memecoin platforms has similarly dropped.
On July 9, Pump.fun had a daily record of 346,000 traders and $348 million in volume. Its competitor, LetsBonk, recorded 208,000 traders and $503 million in volume.
On Monday, data from decentralized exchange aggregator Jupiter showed that Pump.fun had 129,000 traders and a $150 million volume, a 62% drop in daily traders and a 56% decline in 24-hour volume.
LetsBonk recorded 260,000 traders, up 25% from its July 9 record. However, its daily trading volume was $453 million, down nearly 10% since July 9.
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